EMC Insurance (EMCI) Expects $14.6M on Verisk (VRSK) Stock Sale
EMC Insurance Group Inc. (Nasdaq: EMCI) today announced that it expects to record an after-tax realized gain of approximately $14.6 million, or $1.10 per share, in the fourth quarter on the sale of its common stock investment in Verisk Analytics, Inc (NASDAQ: VRSK).
Verisk (formerly known as Insurance Services Office, Inc.) completed its Initial Public Offering on October 7, 2009. In conjunction with that IPO, the Company sold 100% of its holdings of Verisk (1,064,100 shares) at a price of $21.12 per share ($22.00 sales price less a 4% underwriters' fee).
EMC Insurance Group Inc., through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States.
Verisk (formerly known as Insurance Services Office, Inc.) completed its Initial Public Offering on October 7, 2009. In conjunction with that IPO, the Company sold 100% of its holdings of Verisk (1,064,100 shares) at a price of $21.12 per share ($22.00 sales price less a 4% underwriters' fee).
EMC Insurance Group Inc., through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States.
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